Hartford Investment Management Co. Sells 1,341 Shares of McDonald’s Co. (NYSE:MCD)

Hartford Investment Management Co. trimmed its holdings in shares of McDonald’s Co. (NYSE:MCDFree Report) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,870 shares of the fast-food giant’s stock after selling 1,341 shares during the quarter. Hartford Investment Management Co.’s holdings in McDonald’s were worth $14,490,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MCD. Shulman DeMeo Asset Management LLC increased its stake in McDonald’s by 12.2% in the 4th quarter. Shulman DeMeo Asset Management LLC now owns 1,051 shares of the fast-food giant’s stock worth $312,000 after buying an additional 114 shares during the period. Beaumont Financial Advisors LLC increased its stake in McDonald’s by 0.6% in the 3rd quarter. Beaumont Financial Advisors LLC now owns 80,441 shares of the fast-food giant’s stock worth $21,191,000 after buying an additional 450 shares during the period. First National Bank of Mount Dora Trust Investment Services increased its stake in McDonald’s by 2.8% in the 4th quarter. First National Bank of Mount Dora Trust Investment Services now owns 11,025 shares of the fast-food giant’s stock worth $3,269,000 after buying an additional 301 shares during the period. Mengis Capital Management Inc. increased its stake in McDonald’s by 7.9% in the 3rd quarter. Mengis Capital Management Inc. now owns 4,522 shares of the fast-food giant’s stock worth $1,191,000 after buying an additional 331 shares during the period. Finally, Garden State Investment Advisory Services LLC grew its holdings in McDonald’s by 7.7% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 1,227 shares of the fast-food giant’s stock worth $323,000 after acquiring an additional 88 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Down 0.3 %

Shares of NYSE MCD traded down $0.91 during mid-day trading on Wednesday, hitting $276.83. 995,135 shares of the company were exchanged, compared to its average volume of 3,138,361. The stock has a 50 day simple moving average of $289.21 and a 200-day simple moving average of $280.91. McDonald’s Co. has a 1-year low of $245.73 and a 1-year high of $302.39. The firm has a market cap of $199.89 billion, a price-to-earnings ratio of 24.01, a price-to-earnings-growth ratio of 3.03 and a beta of 0.71.

McDonald’s (NYSE:MCDGet Free Report) last issued its quarterly earnings results on Monday, February 5th. The fast-food giant reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.12. McDonald’s had a negative return on equity of 171.96% and a net margin of 33.22%. The firm had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $6.45 billion. During the same period last year, the company earned $2.59 earnings per share. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. Analysts anticipate that McDonald’s Co. will post 12.38 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend was Thursday, February 29th. McDonald’s’s payout ratio is 57.74%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MCD. BTIG Research cut shares of McDonald’s from a “buy” rating to a “neutral” rating in a report on Tuesday, February 6th. StockNews.com cut shares of McDonald’s from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Piper Sandler increased their target price on shares of McDonald’s from $273.00 to $299.00 and gave the stock a “neutral” rating in a report on Monday, December 11th. Stephens restated an “overweight” rating and issued a $320.00 price target on shares of McDonald’s in a report on Monday, February 5th. Finally, Wedbush restated an “outperform” rating and issued a $330.00 price target on shares of McDonald’s in a report on Tuesday, February 6th. Eight analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, McDonald’s currently has an average rating of “Moderate Buy” and a consensus price target of $320.60.

View Our Latest Stock Analysis on MCD

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $284.38, for a total value of $312,533.62. Following the completion of the transaction, the insider now owns 18,075 shares in the company, valued at $5,140,168.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by company insiders.

McDonald’s Company Profile

(Free Report)

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.

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Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

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